Posted on 05/05/2012 8:37:33 AM PDT by null and void
The U.S. stopped making cents the day we elected Barack Obama.
I think this is a good move. Now, if only we could stop gas stations from listing prices in fractions of a cent...
Everything will be rounded up to the higher nickel.
A penny saved is a penny earned....
Well, there are a couple of things which come to mind here.
1. All transactions will be rounded to the nearest 5 cent amont. Even after they calculate sales tax, that’s how all prices will be recorded.
2. Considering that so many retailers, even small retailers, take debit cards nowadays, it’s possible that this won’t create such a problem with the lack of pennies in circulation. The lack of pennies might just encourage more use of debit cards to avoid the whole problem of making change and all that.
Obama's only the latest in a long line since 1900...
Thanks null and void.
Naw...They’ll just fix it to roll it up to the nearest nickel. Sounds profitable for the gov...they’ll do it!!!!
I’ve been anti-penny for at least a decade. They should be made illegal as an impediment to commerce. They are not worth the time retail operations and consumers spend on them.
Apparently AAFES overseas quit doing them at least that long ago, perhaps some of our military FReepers might comment.
The nickle will become the new cent. Eventually it will become defunct, and the dime will be the new cent. Sales tax increases will be a doozie.
In 95 I went to Switzerland.
One thing I noticed was, there were no 1-cent coins and ALL prices ended in 5 or 0.
KILL THE DOLLAR BILL!
They’re filthy carriers of disease, bacteria, etc..
Their life-span is measured in months, after which they’re shredded, and dumped in landfills.
Coins last decades, and the metal can be recycled.
If I get a really grungy one, I pass it off as quickly as possible, and then wash my hands!
THEY’RE FILTHY!
OK,that’s cool...Canada’s doing away with the penny.If Canadians think that that’s in their best interests there’s no problem in my eyes.I think that if *we* did away with *our* penny we’d all be at least a little poorer...literally.I’m willing to incur a little extra expense,tax-wise,and a little bit of bother (all those pennies in the drawer),to keep it around.
The "free market" has already spoken on that issue.How many versions of the dollar coin have surfaced recently only to be firmly rejected by the public? When was the last time you saw a dollar coin? The only time I see them is loading value onto a MetroCard in order to ride the NYC subway.The machines insist on giving them as change.And then I get rid of them ASAP..making sure the person knows that I'm not handing him a quarter.
our gov’t stopped making sense (sic) years ago...
As long as there is a sales tax, we’ll need the one cent coin.>>>>>>>>>>>>>>>
In Canada , currency has been so politicized by the left , that new bills are multi colored and so plastic they would melt before they burned. Also coins have been minted dedicated to ever leftist whacko and their causes, who have done nothing but passed liberal ideological gas consistently for several decades. Currency has also become all about “feeling” you see. Above all Canadians want to feel good aboout themselves, and part of that is having this “wow” currency and coinage.
As a practical matter doing away with cent production is premature, for when the US economy goes South, as it surely will, Obama is doing everything he can to bring it about , without seeming to “really” do so,deflation will make the lowly cent much more significant. Flaherty is functionally correct for the present, but not for the future. He is also looking for ways to cut minting costs to offset the millions of dollars spent in producing Canada’s new “wow “ plastic/paper currency, which really has become the latest government purple people eater, under the guise of preventing couterfeiting, and the tremendous volume of new currencey issued, to dilute the Canadian dollar continually to keep it under valued, slightly less than US currency in order to acheive favorable balance of trade figures with the USA.This is to keep up with the massive volume of printed currency the US mint has printed as a result of quantitative easing, i.e print. print , print the US dollar, and Canada has to keep up.Flaherty is clearly feeling the cost pressure of doing so, rather than allowing the Canadian dollar to be valued higher than the US dollar.
This makes little sense ( cents).
“When was the last time you saw a dollar coin? “
30 seconds ago. You only need carry one. Two dollar bills have a much longer life than singles. In my area, singles are routinely disinfected, and sprayed with some sort of perfume. Makes you wallet, and your hands, smell of cheap perfume/disinfectant. Damn things are incredibly filthy!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.